Quick answer. YYZ has working Big Five bank ATMs from Scotiabank, TD, RBC, and CIBC in both Terminal 1 and Terminal 3 arrivals halls. The standout is Scotiabank: it is the Canadian partner in the Bank of America Global ATM Alliance, so Bank of America debit customers withdraw with zero operator fee and zero BoA non-network surcharge. The other Big Five charge a C$3 to C$5 operator fee on most foreign cards. Skip the ICE and Travelex counters in arrivals at both terminals (5 to 12 percent markup over interbank, plus fixed fees) and the EZee Cash standalone units near the Tim Hortons outlets. The UP Express to Union Station, the TTC 192 Airport Rocket bus, and Uber and Lyft from the rideshare zone all accept contactless tap-to-pay, so you can leave the airport with zero CAD and withdraw at the Scotia Plaza or TD Centre downtown.
Where to get Canadian dollar at YYZ
YYZ has the standard Canadian airport mix: real Big Five bank ATMs (Scotiabank, TD, RBC, CIBC), the unavoidable EZee Cash and ATM Direct standalones near the Tim Hortons outlets, and the ICE and Travelex counters in both arrivals halls. The cost math below assumes you withdraw C$200 starting from a USD account.
| Option | Where | Markup | Total Cost |
|---|---|---|---|
| Scotiabank ATM (YYZ T1 + T3 arrivals) | T1 and T3 landside arrivals | C$0 for BoA Alliance, C$3 for others + interbank rate | ~$73 + C$0-3 fee |
| TD / RBC / CIBC ATM (YYZ T1 + T3 arrivals) | T1 and T3 landside arrivals | C$3 to C$5 operator fee + interbank rate | ~$73 + C$3-5 fee |
| Big Five branch ATM in downtown Toronto (Scotia Plaza / TD Centre) | After 25-min UP Express or 50-min TTC | Same as airport ATMs | ~$73 + C$0-5 fee |
| Pre-ordered Canadian dollars (CEI) | Delivered to your US address | ~2-3% | ~$75-76 |
| Travelex counter (T1 arrivals) | Adjacent to ATMs | 8-12% over mid-market | ~$81-84 |
| ICE Currency counter (T1 + T3 arrivals) | Arrivals concourse | 8-12% | ~$81-84 |
| EZee Cash / ATM Direct standalone (DCC trap) | Near Tim Hortons / Starbucks in arrivals | C$3-5 + 4-12% DCC | ~$76-86 |
Bank ATM locations at Toronto Pearson
Toronto Pearson is Canada's largest airport, handling roughly 47 million passengers a year across two passenger terminals (Terminal 1, which is the main international and domestic terminal used by Air Canada, Star Alliance, and most US carriers, and Terminal 3, used by WestJet, British Airways, and several Skyteam and Oneworld carriers). Each terminal has its own arrivals hall and its own cluster of bank ATMs and exchange counters. The good news is the Big Five coverage is broad: Scotiabank, TD, RBC, and CIBC all maintain machines in arrivals at both terminals, all give the actual Visa or Mastercard interbank rate, and Scotiabank charges zero operator fee on Bank of America cards through the Global ATM Alliance partnership. The catch is geography: T1 and T3 are connected by the Terminal Link automated train (free, 4-minute ride) but they are otherwise distinct buildings with separate baggage-claim halls and separate ground-transportation curbs.
Terminal 1 (main international)
Air Canada, United Airlines, American Airlines, Delta, Lufthansa, Star Alliance, plus most US carriers and most international long-haul
Bank ATMs cluster in Level 1 landside arrivals just past the customs exit. Scotiabank is typically nearest the customs door on the left (the Bank of America Alliance partner), TD sits closer to the UP Express platform on the right, RBC is across from the Tim Hortons, CIBC is further along near the rideshare exit. From baggage claim, follow signs toward UP Express / Pearson Express for the cleanest withdrawal pass-through, then continue to the train platform.
Terminal 3
WestJet, British Airways, Air Transat, KLM, Air France, Emirates, Qatar Airways, Cathay Pacific, plus several Skyteam and Oneworld carriers
T3 arrivals is smaller and the bank-ATM cluster is more compact. Scotiabank and TD sit near the customs exit, RBC further along the concourse near the food court, CIBC near the WestJet baggage area. Budget 2 to 3 minutes more than at T1 to find a Big Five branded machine. Terminal Link automated train (free, 4 minutes) connects T3 to T1 every 4 to 8 minutes if you want a wider Big Five choice.
Do you actually need cash at Pearson?
Almost never. The UP Express, the TTC 192 bus, GO Transit bus 40, Uber and Lyft, and every Beck and Co-Op taxi accept contactless tap-to-pay. Black-cab fare and tip both flow through the in-car terminal. Even airport vending machines and the Tim Hortons at both terminals take contactless. The first cash-only situation you are likely to hit (a St. Lawrence Market historic-stall vendor, a Kensington Market produce stand, a busker on Yonge Street) is in downtown Toronto where bank-ATM density is much higher. Here is what works on tap:
UP Express (T1 to Union Station) (C$12.35 single (C$9.45 with PRESTO)): Direct 25-minute run to Union Station every 15 minutes. Tap-to-pay at the gate or load PRESTO for the cheapest fare..
TTC 192 Airport Rocket bus (T1 to Kipling subway) (C$3.30 with contactless): Connects to Bloor-Danforth subway Line 2. Total downtown trip 50 to 70 minutes. Daily TTC fare cap C$13.50 applies automatically with same card..
GO Transit 40 bus (T1 to Renforth) (C$3.30 to C$8): Connects to GO bus regional network for Hamilton, Mississauga, and Brampton destinations. Useful if not staying downtown..
Uber, Lyft, or Bolt (C$30 to C$60 to downtown): Card-only via the app. Pickup from the rideshare zones at both terminals (not the taxi rank)..
Airport taxi or limousine (C$45 to C$75 to downtown): Flat-rate zones from YYZ. Card readers in every car. Confirm 'card' before getting in..
Self-drive rental (Varies; tolls on the 407 ETR add up): Rental counters in T1 and T3. The 407 ETR toll road is licence-plate billed and added to the rental car if used..
⚠ DCC trap. When the ATM or terminal asks if you want to be charged in your home currency instead of the local currency, always decline and choose the local currency. Accepting locks in a 3-13 percent markup that your no-FX-fee card cannot undo. Full DCC explainer →
Frequently Asked Questions
Do I need cash to get from Pearson to Toronto?
No. UP Express (T1 to Union Station) accepts contactless. Most taxis accept cards. Uber and other apps are card-only.
Can I order Canadian dollar before flying?
Yes. CEI Currency Exchange ships physical Canadian dollar to your US address in 2-5 days at rates well below airport counters. Order 50-100 Canadian dollar for taxis and tips on day one.
Which terminal at YYZ has the best bank ATMs?
Both T1 and T3 have Scotiabank, TD, RBC, and CIBC ATMs in landside arrivals. T1 (the larger international terminal used by Air Canada and most US carriers) has the densest bank-ATM cluster, with all four Big Five machines visible within 90 seconds of the customs exit on Level 1 arrivals. T3 (used by WestJet, British Airways, and Skyteam/Oneworld carriers) has fewer machines: one Scotiabank and one TD near the customs exit, with the RBC and CIBC slightly further along the concourse. If you land at the wrong terminal for your preferred bank, the Terminal Link automated train (free, 4 minutes) connects T1 and T3 every 4 to 8 minutes.
Should I use the ICE or Travelex counters at YYZ arrivals?
No. The ICE Currency and Travelex counters at both terminals post some of the worst CAD exchange rates in Toronto, routinely 8 to 12 percent off the interbank rate, plus fixed transaction fees. A real Scotiabank, TD, RBC, or CIBC ATM is 30 to 60 seconds further into arrivals at every terminal and will save you roughly C$10 on a typical C$100 withdrawal. For Bank of America customers, the Scotiabank ATM specifically saves the full C$10 plus the standard 3 percent BoA non-network surcharge through the Global ATM Alliance waiver.
What about the EZee Cash and ATM Direct white-label machines near the Tim Hortons?
Walk past them. These standalone cash machines (operated by EZee Cash, ATM Direct, and Cash N' Dash) cluster near the Tim Hortons, the Starbucks, and the news-stand outlets in T1 and T3 arrivals where they catch tired travelers before the Big Five branded machines become visible. They charge C$3 to C$5 per withdrawal and push a hard DCC pitch ("continue with conversion?") that adds another 4 to 12 percent. Real bank ATMs are 30 to 90 seconds further along the concourse in both terminals.
Can I leave YYZ with zero Canadian dollars?
Yes, and most travelers should. The UP Express direct to Union Station (25 minutes, every 15 minutes), the TTC 192 Airport Rocket bus to Kipling subway, the GO Transit 40 bus to Renforth station, Uber and Lyft from the rideshare zones at both terminals, and the airport limousine taxis with in-car contactless terminals all accept contactless tap-to-pay or are card-only by definition. If you have a no-FX-fee card you can land at YYZ, tap onto the UP Express, and withdraw at the Scotia Plaza or TD Centre downtown for the cleanest cost math.
How do I get from YYZ to downtown Toronto?
Four good options. The UP Express runs from T1 to Union Station every 15 minutes, takes 25 minutes, and costs C$12.35 with contactless (PRESTO discount C$9.45). The TTC 192 Airport Rocket bus from T1 to Kipling subway, then Bloor-Yonge line downtown, takes 50 to 70 minutes and costs C$3.30 with contactless tap. The GO Transit 40 bus from T1 to Renforth station for connecting GO bus service costs C$3.30 to C$8 depending on destination. Uber, Lyft, or Beck Taxi from the rideshare or taxi zones run C$45 to C$70 depending on destination and traffic.
Can I order Canadian dollars before flying to Toronto?
Yes. CEI Currency Exchange ships physical Canadian dollars to your US address in 2 to 5 days at rates roughly 2 to 3 percent over interbank, far cheaper than the YYZ ICE or Travelex counters. Useful if you want walk-around money for a taxi tip, the first round of Distillery District artisan-stall purchases, or a St. Lawrence Market run before tapping into a bank ATM. Your home bank (Bank of America, Chase, Wells Fargo, Citi) can also order CAD with 3 to 7 business days lead time; CAD is one of the cheapest currencies to pre-order through US bank channels.